Business Daily Media

Men's Weekly

.

Finture introduces cross-border financial solutions to enhance convenience of Hong Kong travelers and foreign domestic workers

HONG KONG SAR - Media OutReach - 27 June 2023 - YUP, the credit payment platform created by Singaporean startup Finture, introduces a range of innovative financial products for Southeast Asia in Hong Kong.

These products facilitate the financial needs of Hong Kong residents and foreign domestic workers, who frequently travel to Southeast Asian countries, as well as respond to China's Belt and Road Initiative. During the initial stage, Finture will launch a "Remote Repayment" credit card designed for foreign domestic workers, allowing the cardholder's relatives to make local purchases in Indonesia, with the cardholder repaying the expenses in Hong Kong. As a result, it eliminates complex, costly, and time-consuming banking procedures, making it convenient for tens of thousands of foreign domestic workers and their families.

Finture is a Singapore-based fintech company that has offices in Shanghai, Singapore, and Jakarta.
Finture is a Singapore-based fintech company that has offices in Shanghai, Singapore, and Jakarta.

Foreign domestic workers promptly remit wages to their families back home in Indonesia. According to statistics, there are about 500,000 foreign domestic workers in Hong Kong, of which 98% are from Indonesia and the Philippines. Donny Zhang, Co-founder and CEO of Finture, said, "Individuals from Indonesia, the Philippines, and other South Asian countries have relatively modest spending patterns in Hong Kong and no income records in their home countries. They face challenges in acquiring bank accounts and credit cards, which affect the convenience and quality of life for themselves and their families. YUP's emergence aims to leverage financial technology to uplift people's living standards, ensuring that everyone is eligible to have access to easy, convenient, and affordable financial products."

Founded in 2021, Finture has emerged as a prominent provider of digital bank and credit payment services in Southeast Asia. Its first product, YUP, has quickly become one of the most popular consumer finance APPs in Indonesia. With the support of major investors such as MindWorks, YUP is now ready to introduce this widely accepted product to the Hong Kong market, implementing the integration of consumer finance under China's Belt and Road initiative.

In response to the popularity of Southeast Asian countries as favored destinations for Hong Kong travelers, YUP is developing an e-wallet that can be used in Southeast Asia, Hong Kong, and China. This new product aims to meet the diverse needs of individuals, enabling them to enjoy a hassle-free consumer experience wherever they go. Credit records, expenditures, telecommunications and other data would be integrated into a unified system that will facilitate comprehensive credit assessments. Gavin Guo, CFO of Finture, said, "YUP will also expand its capabilities to meet the investment and cryptocurrency-related needs of the target audience."

Hashtag: #Finture #YUP


The issuer is solely responsible for the content of this announcement.

About Finture

Finture is a Singapore-based fintech company that has offices in Shanghai, Singapore, and Jakarta. Established in 2021, Finture operates its digital bank and credit payment business in Southeast Asia, and is set to expand its presence to Hong Kong in 2023. Finture believes everyone is eligible to have the access to easy, convenient, and affordable financial products. Cooperated with local financial institutions and fintech companies, Finture has achieved exponential growth since launching its first product YUP, which now has become one of the most popular consumer finance APPs in Indonesia,especially among the working class people.

Official Website:

About Donny Zhang, Finture's co-founder and CEO

Co-founded Finture in 2021, Donny has over 15 years of working experience in Fintech, financial services and investments. Before that, Donny graduated from the University of Sheffield and worked in strategic consulting at Accenture. In 2015, Donny joined 360 Group as a strategic investment manager, focusing on the development of financial technology in markets such as China, Southeast Asia and South America. He has led investment and research on digital banking and startups in multiple global markets, contributing to the growth and fundraising of 360 Group's financial business, 360DigiTech. His efforts played a crucial role in facilitating the successful listing of the company on the NASDAQ stock exchange (NDAQ: QFIN) in 2018.

After that, Donny was appointed to the role of southeast business CEO of 360DigiTech, expanding business in Jakarta. Recognizing the untapped opportunities in Southeast Asian banking services, he embarked on the founding of Finture, focusing on digital banking as a means to provide consumer financial payment products tailored to the needs of the working class people.

News from Asia

HDBank: A Leading Vietnamese Bank Named Among ASEAN’s Top 5 in Corporate Governance for 2025

HO CHI MINH CITY, VIETNAM - Media OutReach Newswire - 29 July 2025 - The Ho Chi Minh City Development Commercial Joint Stock Bank (HDBank) has been named one of the Top 5 Vietnamese listed compani...

Octa market outlook: navigating one of the most eventful weeks of the year

KUALA LUMPUR, MALAYSIA - Media OutReach Newswire - 28 July 2025 - Forex traders are bracing for what could be one of the most pivotal trading weeks of the year. The calendar is packed with high-im...

Lee Kum Kee Supports the 2025 Asian Championship of World Chinese Cuisine

Where culinary elites are brought together to celebrate Asian gastronomyHONG KONG, CHINA - Media OutReach Newswire - 29 July 2025 - The 2025 Asian Championship of World Chinese Cuisine, organised ...

OPPO Launches AI Phone Reno14 Series and Upgraded AI-Powered Intelligent After-Sales Service System

SHENZHEN, CHINA - Media OutReach Newswire – 29 July 2025 - Following the recent global launch of the Reno14 Series—the latest OPPO AI phone featuring cutting-edge AI imaging capabilities and trend...

Hong Kong Developed Revolutionary Sauce EXOTICA UMAMI [EX M] Impresses Acclaimed International Chefs

Top Italian Restaurateur Paolo Monti of Hong Kong’s popular AMA Italian Ristorante adds new pork collar meat dish to menu incorporating innovative new seasoning sauceHONG KONG SAR - Media OutReach...

Vinmec Central Park Performs Vietnam’s First SEEG using AutoGuide Robotic Guidance System for a child diagnosed from refractory epilepsy

HO CHI MINH CITY, VIETNAM - Media OutReach Newswire - 29 July 2025 – A major breakthrough in Vietnam's neurological treatment was recently achieved as doctors at Vinmec Central Park Internati...

VinFast joins the Association of Indonesia Automotive Industries

JAKARTA, INDONESIA - Media OutReach Newswire - 25 July 2025 - VinFast officially announced its membership in the Association of Indonesia Automotive Industries (GAIKINDO), marking a significant mi...

XTransfer Announces Over 700,000 Global Customers

Emerging Markets Become the "Blue Ocean" for Enterprises Going GlobalHONG KONG SAR - Media OutReach Newswire - 29 July 2025 - XTransfer, the World's Leading & China's No.1 B2B Cross-Border ...

Chun Wo Innovation Student Awards 2024 Successfully Concluded Four Outstanding Projects Showcase the Future of Engineering Innovation

HONG KONG SAR - Media OutReach Newswire - 29 July 2025 - Organised by Chun Wo Development Holdings Limited ("Chun Wo"), the Chun Wo Innovation Student Awards 2024 ("CWISA") concluded successfull...

HEIDELBERG agrees strategic partnership with defense specialist VINCORION

HEIDELBERG moves into defense industry VINCORION Advanced Systems GmbH specializes in power systems for safety-critical applications HEIDELBERG impres...

Small-Business Cash-Flow Playbook 2025

An educational guide to managing ATO debt, real-time super and growth finance in Australia’s new landscape Why ATO debt just became the most expe...

Landowners Offered $30,000 Per Year for Just 1 Hectare: The Rise of 5MW Battery Projects Across Australia

In a pivotal shift reshaping Australia’s renewable energy landscape, landowners in Queensland, New South Wales, and Victoria are being offered up ...

Major national security tech alliance launches with Aerologix a founding member

Australia’s leading drone intelligence pioneer bolsters sovereign tech power Australia’s leading aerial data and drone intelligence platform, Aer...

Chris Hancock AM Honoured as 2025 Communications Ambassador

SYDNEY Chris Hancock AM, former CEO of AARNet, has been awarded the prestigious Communications Ambassador title at the 2025 Telecommunications Indus...

Baby boomers are driving development feasibility leading to larger apartments

As residential developers continue to grapple with feasibility issues on apartment projects, the sector is struggling to deliver volumes of new st...

Hays launches FY25/26 Salary Guide: ‘Salary Paradox’ deepens as pay rises fail Australians

Rising dissatisfaction with pay, progression and perks is fuelling a new wave of career change in FY25/26, as Australians demand more from employe...

Sell by LayBy